Abbott Laboratories (NYSE:ABT) Shares Sold by Roosevelt Investment Group LLC

Roosevelt Investment Group LLC reduced its position in Abbott Laboratories (NYSE:ABT) by 4.8% in the 2nd quarter, Holdings Channel reports. The firm owned 2,398 shares of the healthcare product maker’s stock after selling 120 shares during the quarter. Roosevelt Investment Group LLC’s holdings in Abbott Laboratories were worth $278,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 4Thought Financial Group Inc. acquired a new position in Abbott Laboratories in the 2nd quarter valued at $25,000. Sierra Capital LLC acquired a new position in Abbott Laboratories in the 1st quarter valued at $30,000. Holloway Wealth Management LLC grew its holdings in Abbott Laboratories by 150.0% in the 2nd quarter. Holloway Wealth Management LLC now owns 250 shares of the healthcare product maker’s stock valued at $29,000 after buying an additional 150 shares in the last quarter. CKW Financial Group purchased a new stake in Abbott Laboratories in the 2nd quarter valued at $36,000. Finally, Isthmus Partners LLC purchased a new stake in Abbott Laboratories in the 2nd quarter valued at $36,000. 72.05% of the stock is owned by hedge funds and other institutional investors.

ABT opened at $125.28 on Wednesday. The stock’s 50-day moving average price is $123.78 and its 200 day moving average price is $119.54. Abbott Laboratories has a 12-month low of $100.34 and a 12-month high of $129.70. The company has a current ratio of 1.79, a quick ratio of 1.36 and a debt-to-equity ratio of 0.52. The firm has a market cap of $222.10 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 2.45 and a beta of 0.66.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, July 21st. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.15. The firm had revenue of $10.22 billion for the quarter, compared to analyst estimates of $9.67 billion. Abbott Laboratories had a return on equity of 26.75% and a net margin of 15.85%. Abbott Laboratories’s revenue was up 41.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. On average, research analysts forecast that Abbott Laboratories will post 4.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Friday, October 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, October 14th. Abbott Laboratories’s dividend payout ratio is currently 49.32%.

In other news, SVP Michael J. Pederson sold 23,008 shares of the firm’s stock in a transaction dated Wednesday, September 8th. The stock was sold at an average price of $129.05, for a total transaction of $2,969,182.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Sammy Karam sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 3rd. The stock was sold at an average price of $122.50, for a total value of $980,000.00. The disclosure for this sale can be found here. Insiders sold a total of 222,883 shares of company stock worth $27,964,400 in the last ninety days. 1.50% of the stock is owned by corporate insiders.

ABT has been the subject of several analyst reports. Cowen upped their target price on Abbott Laboratories from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Monday, August 23rd. BTIG Research upped their target price on Abbott Laboratories from $126.00 to $136.00 and gave the company a “buy” rating in a report on Tuesday, August 31st. Citigroup restated a “buy” rating and issued a $125.00 target price (down from $138.00) on shares of Abbott Laboratories in a report on Wednesday, June 2nd. Zacks Investment Research upgraded Abbott Laboratories from a “strong sell” rating to a “hold” rating and set a $127.00 price target for the company in a report on Tuesday, August 3rd. Finally, Raymond James increased their price target on Abbott Laboratories from $116.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, July 23rd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $128.93.

Abbott Laboratories Company Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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